Imagine a seasoned executive on his deathbed, surrounded by riches yet missing the simple joys of health and family. In that moment, he recognises what true wealth really means. As financial planner Dean Barber puts it, “true wealth is defined by things that money can’t and that death can’t take away,”. His story reminds us that the biggest financial decision we face is not merely how to make more money, but how to build true wealth in every dimension of life. This shift in perspective can transform our goals: instead of chasing short-term gains, we focus on building a legacy of well-being, strong relationships, and knowledge that endures beyond the balance sheet.
Rethinking About True Wealth: The Chartered Wealth Management Perspective
My brother and I went fishing on Sunday, who is a Chartered Wealth Manager, and we were casually talking about true wealth, so I’ve taken his perspective too in this blog. Traditional wealth management often equates wealth with money or possessions, but a chartered perspective expands this view.
Wealth can be anything of value that is convertible to monetary terms. It’s the accumulation of valuable resources, tangible or intangible, measured in any currency. For instance, Investopedia notes that money is merely a unit of account for measuring wealth, reminding us that any asset or skill can be valued in currency. From this viewpoint, your health, reputation, network, and knowledge all qualify as wealth because they contribute to your prosperity. This broader definition reveals that true wealth extends beyond currency: it includes our health, relationships, and intellectual capital. In practice, it means we make strategic choices that enrich life on multiple fronts.
So it’ll be a piece of advice to clients that they need to consider their human capital (health and skills) and social capital (networks) just as much as financial assets. By diversifying our “wealth portfolio” across these dimensions, we hedge against life’s uncertainties, much like diversifying investments, and maximise long-term value.
Physical Wealth: Health as Capital
“It is health that is real wealth and not pieces of gold and silver,” said Mahatma Gandhi. Treat your body and well-being as the foundational capital in your wealth portfolio. Good health amplifies your energy, creativity, and longevity; without it, even the largest bank balance is of little use. For example, by Mike Vardy, a study found that on days employees exercised, concentration was about 21% higher and motivation jumped by 41%– clear evidence that investing in fitness pays immediate dividends in productivity.
Team sense says, Conversely, poor health carries a huge cost: workplace absenteeism now costs U.S. businesses an estimated $225.8 billion annually, and medical bills from chronic illness can drain personal savings. Investing in physical wellness through regular exercise, good nutrition, sufficient rest, and preventive care yields long-term gains in productivity and well-being. Think of each healthy habit as a deposit in your health account, compounding over time into more years of fruitful work and quality life.
Social Wealth: Your Network as Net Worth
Your social wealth is the network of relationships, trust, and influence you build. As Robert Kiyosaki famously observed, “The richest people in the world build networks. Everyone else is trained to look for work.” Strong connections create opportunities that money alone cannot buy. I must say this this 100% true because when I was pursuing a Master’s from the University of London, the one thing I did was networking, and guess what! I landed my first job out of the network that I’ve made. Studies show that 85% of jobs are filled through networking, and 80% of professionals consider networking vital to career success. Each colleague, mentor, and friend is a bridge to new clients, ideas, or partnerships.
Building strong social ties pays dividends in both personal fulfillment and business success. For entrepreneurs, this means treating networking as an investment: attending events, following up with contacts, and offering help without immediate gain. Over time, a robust network can open doors to deals, referrals, or insights that dramatically accelerate growth. In short, your network can be your net worth. In a world where trust and influence drive success, neglecting social capital is a missed opportunity for true wealth.
Intellectual Wealth: Skills and Knowledge as Compounding Assets
Intellectual wealth comes from the skills, knowledge, and creativity you accumulate. Benjamin Franklin said it best: “An investment in knowledge pays the best interest.” Every new skill or insight adds to your intellectual capital, much like depositing into a compound interest account. In today’s fast-changing economy, knowledge depreciates quickly – IBM reports a skill’s “half-life” is about five years on average (just 2.5 years for technical skills). Likewise, a Deloitte survey finds 74% of executives say developing employee skills is vital to their organization’s strategy. This underscores that continuous learning isn’t optional – it’s essential for keeping your professional value growing. By dedicating time each week to learning (whether through courses, books, or practice), you compound your human capital. Over time, this intellectual wealth multiplies your career options and earnings. In effect, knowledge builds equity in your future: the more you learn, the more doors open to innovation and success.
Financial Wealth: Letting Money Make Money
One pillar of wealth is financial: money that earns more money. By saving and investing wisely, your capital works for you around the clock. Albert Einstein famously called compound interest “the eighth wonder of the world.” Over the decades, this has proven true. For example, the S&P 500 index, a broad-market benchmark, has averaged roughly 10% annual return since 1957. At that rate, even modest savings grow dramatically: a simple rule of 72 suggests money doubles every ~7 years at 10%. Indeed, a small $100 invested in 1957 would have grown to over $87,000 by 2024. These figures illustrate the power of compounding: consistent contributions can turn daily savings into a large fortune over a career.
As Warren Buffett advises, “If you don’t find a way to make money while you sleep, you will work until you die.” By channeling income into investments (stocks, bonds, real estate, or business ventures), you create passive engines of financial wealth. Even simple strategies – like automating savings or reinvesting dividends – make your money a source of future income. Over time, this financial pillar can support life goals (retirement, family, philanthropy) without daily effort.
Building Holistic Wealth: The Ultimate Financial Decision
The most important financial decision isn’t which stock to pick or how to dodge taxes – it’s choosing to build wealth in all four dimensions together. Focusing solely on money can leave you burnt out or lonely, while ignoring finances can leave you vulnerable. True success requires balance: just as a well-balanced meal supports physical health, a well-balanced “wealth diet” supports a rich life. To pursue this holistic vision of wealth, try these action steps:
- Invest in Your Health: Schedule exercise, eat a balanced diet, and get routine check-ups. Your body is your longest-term asset; each healthy year adds to your wealth.
- Cultivate Your Network: Grow and nurture relationships. Attend industry events, stay connected with mentors, and lend a hand when you can. Your network will often offer opportunities and support you never anticipated.
- Commit to Continuous Learning: Dedicate time weekly to acquire new skills or knowledge. Take a course, read widely, or practice a new technique. Each hour invested in learning compounds into valuable intellectual wealth.
Plan and Invest: Automate savings and make consistent investments. Use retirement accounts, reinvest dividends, and let compound interest increase your financial base. Even small, regular contributions can yield exponential growth over time.
These investments reinforce each other: good health keeps you energetic for networking and learning; those in turn advance your career, which provides capital to invest; and a strong network can highlight new learning or investment opportunities. As Dean Barber notes, true security and freedom come from having confidence, freedom, and time, the rewards of nurturing all four types of wealth.
Happy to Help
Building true wealth is the boldest financial decision you can make. As Warren Buffett reminds us, “Someone is sitting in the shade today because someone planted a tree a long time ago.” Each choice we make now, exercising, building relationships, learning, and saving, is like planting trees for our future. By expanding your view beyond dollars alone, you create a life of lasting abundance and fulfillment. Take action: book a 1:1 consultation to map out your path to true wealth. Together, we’ll craft a personalized strategy that grows not just your finances, but your health, relationships, and knowledge too, ensuring the richest possible future.
Sources: Wealth concepts adapted from financial literature investopedia.cominvestopedia.com; health investment benefits mikevardy.comteamsense.com; networking statisticsapollotechnical.com; skill half-life and training importanceibm.comwww2.deloitte.com; historical market returns investopedia.cominvestopedia.com. (Quotes from Gandhi, Kiyosaki, Franklin, Einstein, and Buffett.)
